The more elastic the demand for a good, the smaller the deadweight loss from the tax imposed on the good

If real GDP is $13,500 billion and aggregate hours are 110 billion, labor productivity equals

A) $6.75 per hour. B) $104 per hour. C) $123 per hour. D) $675 per hour.

Comparative advantage in production of a good occurs

A. when a country can produce that good using fewer resources than could other countries. B. when a country can produce that good at a greater opportunity cost than could other countries. C. when a country can produce that good at a lower opportunity cost than could other countries. D. when a country has a greater supply of natural resources required to produce that good, compared to other countries.